ORIENTREF ORIENTREF (Weekly):- 349.65 CMP looks good for more upside :)
1)Multiyear Breakout :)
2) Huge Volume Activates
Orientrefractories
ORIENT GETTING REJECTION ON WEEKLY TIMEFRAME ORIENT GETTING REJECTION ON WEEKLY TIMEFRAME AND BE ACCUMULATED TILL THE LEVELS OF 275......GETTING UPWARD REJECTION WILL LEAD TIHS TO 335,350+
Orient Refractory: Long One can buy Orient Refractory with the Stop loss as 250 and target open. A beautiful retest of a breakout is visible with negligible volumes indicating weak hands are out. Deliveries are also above 60% for the fall.
Orient Ref "Range Breakout & Trend Line Breakout"Big Breakout - Orient Ref
Closing Price - 303
Buy 50% On Monday
Add 50% If Price Drops To 279-280
Strict SL - 212 (WCB)
Target - 450
Positional--- ORIENTREF LONG..... All time high volumes in weekly
also increasing in volume with price increment
so for short term buy above weekly high
or
for long term buy at CMP add till 240
Good support near 200-180
if closing below this then we may see more downside
Market Cap--₹ 3,641 Cr.
Stock P/E--49.5
ROCE--29.3 %
ROE--21.7 %
Company is almost debt free.
Good fandamentls
Breakout in Orient Refractories...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
Breakout Stock Orient Refactories !! 06 April 2021 !!* Two chart pattern completing at the same time High conviction set up .If it made above 200-day moving average and life time high that gives more confident .
* In daily time frame high volume buying initiated today that gives gives a bullishness sign .
Kindly Let us Know if you have any questions.
watch for resistance breakoutbuy above 236 target 250, 260, 270++
didn't sustain last time as opened gapup
ascending triangle breakout positional trade CMP 198
Buy Now and add in dips till 180
Stop loss below 162 Day closing basis
Target 250
ORIENT Refactories Ltd buy setupBuy ORIENTREF between 245-237
T1: 315
T2: 333
T3: 360
T4: 405
SL: 217
